Question
Asked Nov 6, 2019
110 views

Is it feasible to prohibit monopolies in all markets? Does advertising help or hurt consumers?

check_circle

Expert Answer

Step 1

No, it is not feasible to prohibit monopolies in all markets.

In economics, the term monopoly refers to the form of market where there is only one seller of a particular service or good in the market. Furthermore, that sole seller will have control over the market supply and price of that particular service or good.

In real word, some monopolies are good and some are bad like monopoly in the case of est...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in

Business

Economics

Microeconomics

Related Economics Q&A

Find answers to questions asked by student like you

Show more Q&A add
question_answer

Q: As a manager of a chain of movie theaters that are monopolies in their respective markets, you have ...

A: (1)The supply function can be written as Qs=2000+2P. From the supply function inverse supply functio...

question_answer

Q: Part f and i

A: (f)In this part, the U.S. surgeon announces that hot chocolate cure acnes; therefore, knowing this p...

question_answer

Q: 1. The demand and supply schedules for pop in Vancouver are as follows: Price ($/pack of 2 bottles) ...

A: a. (1) The diagram below shows the pop market with DD as the demand curve and SS1 as the supply curv...

question_answer

Q: PE19   Determine whether each of the following would cause the economy’s PPF to shift inward, outwar...

A: Answer - Dera studentThank you for submitting your question.Since we only answerup to three sub part...

question_answer

Q: National defense is a good that is nonexcludable and nonrival in consumption. Suppose that instead o...

A: Given,Total number of Latvian citizens = 10The amount, each citizen should pay is $10The value of ev...

question_answer

Q: Instructions: Enter your answers as whole numbers.  A) What are the equilibrium price level and the ...

A: (A)The above given situation of a hypothetical economy can be depicted from the below graph:

question_answer

Q: Economists can do a reasonably good job of calculating GDP, GDP per capita, NDP, etc. Do you agree? ...

A: GDP refers to the Gross Domestic Product. It is the value of all the final goods and services produc...

question_answer

Q: If Good C increases in price by 30% a pound, and this causes the quantity demanded for Good D to inc...

A: Suppose there are two goods: good 1 and good 2.  The cross-price elasticity of demand measures the r...

question_answer

Q: In what ways do future generations benefit from this generation’s deficit spending?  Cite three exam...

A: Public deficit: It refers to the situation in which government expenditure exceeds its revenue gener...